BJC Records Higher Sales Revenue amid Rising Burden from Tax Expenses

Berli Jucker Public Company Limited (SET: BJC) has announced its 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;

Quarter 1Q24 1Q23
Net Profit (Loss)
Million Baht
427.71 1,254.17
Earning Per Share
0.1100 0.3100
% Change -65.90

BJC reported a net profit of THB 428 million, a decrease of THB 826 million or 65.9% from the same period last year, mainly by increased interest expense, and higher tax expenses in April.

Moreover, a subsidiary of the company had concluded a tax refundable amount for the year 2019-2023, recognizing income tax expense THB 586 million. Together with other related expenses, total non-recurring one-time expenses equal to THB 659 million.

Meanwhile,  total revenue for 1Q24 reached THB 41,961 million, representing an increase of THB 1,157 million or 2.8% over the same period last year. This increase was mainly due to (1) increased consolidated sales and service revenue by THB 1,113 million or 3.0% over the same period last year, and (2) increased other income by THB 6 million mainly from the Consumer Supply Chain.

BJC’s consolidated total expenses for 1Q24 amounted to THB 40,241 million, an increase of THB 1,035 million or 2.6% over the same period last year. This increase was mainly due to (1) increasing cost of goods sold expenses due to growing sales, (2) increasing SG&A expenses from store expansion of the Modern Retail Supply Chain, and (3) increasing interest expenses due to higher interest rates.